About Closing Costs
There are certain standard costs related to closing the sale of a house. Sellers and buyers almost always split these costs, as the sales contract specifies.
As you'll see below, many of the buyer's closing costs cover the costs of getting the mortgage loan. At Sky Apply Mortgage, Inc, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".
Loan Estimates (LEs)
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at the closing table.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your loan application. At Sky Apply Mortgage, Inc, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Appraisal Fee
- Getting Your Credit Report
- Up-front Interest Payment
- Escrow Account
- Various Taxes
- Loan-related costs
- Points — lower your mortgage interest rate (optional)
- Transfer Taxes & Recording Fees
- Title Insurance
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
At Sky Apply Mortgage, Inc, we answer questions about closing costs every day. Give us a call: (813) 200-7931.
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